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20121210
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CSPAN
Dec 10, 2012 12:00pm EST
a subcommittee field hearing in new jersey next monday december december 10 on super storm sandy. senator toomey. >> thank you mr. chairman and thank you mr. secretary for joining us. i would like to understand better and aspects of the actuarial review. the question arises from the interest-rate assumptions and the interest-rate interest rate environment that is used to determine the prevailing view about the value of the mutual mortgage insurance fund and the family fund. more specifically, you observe on page eight of your testimony the fact the worst shape the fund is to simplify that and you walk through the mechanisms by which a lower interest rates while good for the economy overall tend to have an adverse impact on the value of the fund. my understanding is that the actuarial review contemplates glowegee straight environment. and in the low interest-rate environment, the value of the fund is negative $31 billion. aren't we in a low incher straight environment today, and partly by virtue of what the fed has said, which is to say maintaining current policy at least through mid-2015, so thr
CSPAN
Dec 10, 2012 5:00pm EST
reasons why in the credibility of military threat is so important. one reason is, sandy, i think it was, indicated cannot be aryans to respond to credible threats of force. you looked at the hostage crisis it was resolved when the ron reagan was elected. you read the biographies of the hostage-takers, they act like a cowboy. their release the hostages the moment he was sworn in. it's not that well-known, but the soviets were taken hostage at their embassy at the same time. the soviets threatened to bomb tehran. their hostages were let go. it's also important to note that the iran-iraq board came to an end when the u.s. mistakenly shot down an iranian civil airline. the iranians thought, well, the u.s. is going to get into this war no-holds-barred and the ayatollah made a speech. during the poisoned chalice. the cards were such that he had to simply take the best deal he could. that recommending they bond in iranian airline. on to say their is a lesson there. they backed down in the face of a credible threat of force. at the same time, if you were the iranians your thinking to yourself,
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